Question: Saved Help Save & Exit Su Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system.
Saved Help Save & Exit Su Required information [The following information applies to the questions displayed below.] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date March 1 March 5 Activities Beginning inventory Purchase March 9 Sales March 18 March 25 March 29 Purchase Purchase Sales Totals Units Acquired at Cost 90 units 220 units Units Sold at Retail 80 units 140 units @$50.80 per unit @$55.80 per unit @ $60.80 per unit @$62.80 per unit 250 units @ $85.80 per unit 530 units 120 units @ $95.80 per unit 370 units 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold include 60 units from beginning inventory, 190 units from the March 5 purchase. 40 units from the March 18 purchase, and 80 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO.
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